Property Management
Under a gross lease, unexpected increases in property taxes are paid by:
AThe tenant
BThe landlord✓ Correct
CShared equally
DThe county
Explanation
Under a gross lease, the landlord pays all operating expenses including property taxes — so any unexpected tax increases are absorbed by the landlord, not passed to the tenant.
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Key Terms to Know
Agency
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
ZoningLocal government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
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